department store

J.C. Penney Stock Loses 13%, Drops to Lowest Price Since March 2009

J.C. Penney executives may be confident in the department-store chain's everyday low pricing strategy, but its investors are panicking: The company's stock fell more than 13 percent on Monday, closing at its lowest price since March 2009 when the United States was in a recession.

Piers Morgan Chats With Penney CEO, But No Word on Floundering Makeover

The CNN host Piers Morgan heralded Ron Johnson, CEO of J.C. Penney, as the genius behind Apple stores who's now working his magic on J.C. Penney, ignoring the big, fat elephant in the room: Johnson's February makeover of the chain has so far flopped, sinking revenues and alienating shoppers.

Macy's Raises Profit Outlook, Doubles Dividend

Macy's is raising its earnings outlook for the fourth quarter and full year due to a strong holiday season and says it will double its quarterly dividend to 20 cents a share. The retailer is also increasing its share repurchase program by $1 billion. The announcements came as the department store operator reported Thursday that a key measure of its December sales rose faster than analysts had expected.

Macy's Flagship Store to Receive $400 Million Facelift

Macy's has set out to create another miracle on 34th Street with a $400 million revamp of its fabled flagship store in New York City. The planned makeover includes a new focus on upscale food with 22 eateries, and an emphasis on technology that reflects Macy's courtship of Generation Y.

Walmart Will Join Auction to Buy Indonesia's Hypermart

The world's largest retailer, Walmart Stores, wants to get even larger: It has joined the bidding war for Indonesian retailer Matahari's hypermarket business, Hypermart, a deal that could be worth up to $1 billion, unnamed sources told Reuters on Thursday.

Kohl's to Hire 40,000 Temps for the Holiday Season

Retailer Kohl's said on Wednesday that it plans to hire 40,000 temporary workers during this year's holiday season at stores, distribution centers and credit operations nationwide -- 7,000 more than last year. The shopping season this year has been forecast to be stronger than it was in 2009.

Saks Cuts Losses as Luxury Shoppers Return

Saks says business is getting better in the luxury department-store space, but the retailer will be looking at the Internet and cheaper Off 5th outlet stores for growth this year. Saks narrowed its fourth-quarter net loss to $4.6 million, meeting expectations.

Nordstrom Profits Double But Miss Estimates

Nordstrom's fourth-quarter results missed Wall Street's estimates, but the upscale department-store chain isn't likely to get too many complaints since it more than doubled its profits. Management gave a conservative forecast for the year, saying it will pick up the pace of remodeling stores and stock stores carefully.